Common use of Minimum Interest Clause in Contracts

Minimum Interest. 6.6.1 When entering into this Agreement, the Parties have assumed that the interest payable under this Agreement is not and will not become subject to any tax deduction on account of Swiss Withholding Tax. 6.6.2 Notwithstanding Clause 6.6.1, if a tax deduction is required by law in respect of any sum payable by a Swiss Obligor under a Finance Document and should it be unlawful for such Swiss Obligor to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-up) for any reason (where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-up)) then: a. the applicable interest rate in relation to that payment shall be the rate which would have applied to that payment as provided for by Clause 6.1 divided by 1 minus the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); and b. that Swiss Obligor shall: i. pay the relevant sum at the adjusted rate in accordance with paragraph (a) above; ii. make the tax deduction on the amount so recalculated; and all references to a rate of interest under the Finance Documents shall be construed accordingly. 6.6.3 To the extent that a sum payable by a Swiss Obligor under a Finance Document becomes subject to Swiss Withholding Tax, each relevant Lender and each relevant Swiss Obligor shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (i) for the Swiss Obligor to obtain authorisation to make such payments without them being subject to Swiss Withholding Tax and (ii) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.

Minimum Interest. 6.6.1 When entering into this Agreement, the Parties have assumed that the interest payable under this Agreement is not and will not become subject to any tax deduction on account of Swiss Withholding Tax. 6.6.2 Notwithstanding Clause 6.6.1, if a tax deduction is required by law in respect of any sum payable by a Swiss Obligor under a Finance Document and should it be unlawful for such Swiss Obligor to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-up) for any reason (where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-up)) then: a. (a) the applicable interest rate in relation to that payment shall be the rate which would have applied to that payment as provided for by Clause 6.1 divided by 1 minus the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); and b. (b) that Swiss Obligor shall: i. (i) pay the relevant sum at the adjusted rate in accordance with paragraph (a) above; (ii. ) make the tax deduction on the amount so recalculated; and all references to a rate of interest under the Finance Documents shall be construed accordingly. 6.6.3 To the extent that a sum payable by a Swiss Obligor under a Finance Document becomes subject to Swiss Withholding Tax, each relevant Lender and each relevant Swiss Obligor shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (i) for the Swiss Obligor to obtain authorisation to make such payments without them being subject to Swiss Withholding Tax and (ii) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.

Minimum Interest. 6.6.1 When entering into this Agreement, the Loan Parties have assumed in bona fide that the interest any amounts, including interests and fees, payable under this Agreement is a Loan Document by a Loan Party are not and will not become subject to any tax deduction on account of Swiss Withholding Tax. 6.6.2 . Notwithstanding Clause 6.6.1the foregoing, if a tax deduction is required by law in respect of any sum amount payable by a Swiss Obligor Loan Party under a Finance Loan Document and should it be unlawful for such Swiss Obligor Loan Party to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-upSection 2.15(a) for any reason (reason, where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-upSection 2.15(a)) , then: a. (i) the applicable interest rate in relation to that payment shall be the interest rate which would have applied to that payment as provided for by Clause 6.1 Section 2.4(a) or any other relevant provision in any Loan Document divided by 1 minus the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); and b. that Swiss Obligor (ii) the Loan Party shall: i. (A) pay the relevant sum amount at the adjusted rate in accordance with paragraph Section 2.4(g)(i); | (aB) above; ii. make the tax deduction on the amount interest so recalculated; and and (C) all references to a rate of interest under the Finance Documents a Loan Document shall be construed accordingly.; and 6.6.3 To (iii) to the extent that a sum any amount payable by a Swiss Obligor Loan Party under a Finance any Loan Document becomes subject to Swiss Withholding Tax, each the relevant Lender and each the relevant Swiss Obligor Loan Party shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (iA) for the Swiss Obligor such Loan Party to obtain authorisation to make such interest payments without them being subject to Swiss Withholding Tax and (iiB) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.

Minimum Interest. 6.6.1 When entering into this Agreement, the Parties have assumed that the interest payable under this Agreement is not and will not become subject to any tax deduction on account of Swiss Withholding Tax. 6.6.2 Notwithstanding Clause 6.6.1, if a tax deduction is required by law in respect of any sum payable by a Swiss Obligor under a Finance Document and should it be unlawful for such Swiss Obligor to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-up) for any reason (where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-up)) then: a. (a) the applicable interest rate in relation to that payment shall be the rate which would have applied to that payment as provided for by Clause 6.1 divided by 1 minus #3462336/1 29 (117) the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); and b. (b) that Swiss Obligor shall: i. (i) pay the relevant sum at the adjusted rate in accordance with paragraph (a) above; (ii. ) make the tax deduction on the amount so recalculated; and all references to a rate of interest under the Finance Documents shall be construed accordingly. 6.6.3 To the extent that a sum payable by a Swiss Obligor under a Finance Document becomes subject to Swiss Withholding Tax, each relevant Lender and each relevant Swiss Obligor shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (i) for the Swiss Obligor to obtain authorisation to make such payments without them being subject to Swiss Withholding Tax and (ii) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.

Minimum Interest. 6.6.1 When entering into this Agreement, the Parties have assumed that the interest payable under this Agreement is not and will not become subject to any tax deduction on account of Swiss Withholding Tax. 6.6.2 Notwithstanding Clause 6.6.1, if a tax deduction is required by law in respect of any sum payable by a Swiss Obligor under a Finance Document and should it be unlawful for such Swiss Obligor to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-up) for any reason (where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-up)) then: a. (a) the applicable interest rate in relation to that payment shall be the rate which would have applied to that payment as provided for by Clause 6.1 divided by 1 minus the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); andand #10394456/1 b. (b) that Swiss Obligor shall: i. (i) pay the relevant sum at the adjusted rate in accordance with paragraph (a) above; (ii. ) make the tax deduction on the amount so recalculated; and all references to a rate of interest under the Finance Documents shall be construed accordingly. 6.6.3 To the extent that a sum payable by a Swiss Obligor under a Finance Document becomes subject to Swiss Withholding Tax, each relevant Lender and each relevant Swiss Obligor shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (i) for the Swiss Obligor to obtain authorisation to make such payments without them being subject to Swiss Withholding Tax and (ii) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.

Minimum Interest. 6.6.1 When entering into this Agreement, the Loan Parties have assumed in bona fide that the interest any amounts, including interests and fees, payable under this Agreement is a Loan Document by a Loan Party are not and will not become subject to any tax deduction on account of Swiss Withholding Tax. 6.6.2 . Notwithstanding Clause 6.6.1the foregoing, if a tax deduction is required by law in respect of any sum amount payable by a Swiss Obligor Loan Party under a Finance Loan Document and should it be unlawful for such Swiss Obligor Loan Party to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-upSection 2.15(a) for any reason (reason, where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-upSection 2.15(a)) , then: a. (i) the applicable interest rate in relation to that payment shall be the interest rate which would have applied to that payment as provided for by Clause 6.1 Section 2.4(a) or any other relevant provision in any Loan Document divided by 1 minus the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); and b. that Swiss Obligor (ii) the Loan Party shall: i. (A) pay the relevant sum amount at the adjusted rate in accordance with paragraph (a) aboveSection 2.4(g)(i); ii. (B) make the tax deduction on the amount interest so recalculated; and and (C) all references to a rate of interest under the Finance Documents a Loan Document shall be construed accordingly.; and 6.6.3 To (iii) to the extent that a sum any amount payable by a Swiss Obligor Loan Party under a Finance any Loan Document becomes subject to Swiss Withholding Tax, each the relevant Lender and each the relevant Swiss Obligor Loan Party shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (iA) for the Swiss Obligor such Loan Party to obtain authorisation to make such interest payments without them being subject to Swiss Withholding Tax and (iiB) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.

Minimum Interest. 6.6.1 6.5.1 When entering into this Agreement, the Parties have assumed that the interest payable under this Agreement is not and will not become subject to any tax deduction on account of Swiss Withholding Tax. 6.6.2 6.5.2 Notwithstanding Clause 6.6.1, if a tax deduction is required by law in respect of any sum payable by a Swiss Obligor under a Finance Document and should it be unlawful for such Swiss Obligor to comply with Clauses 10.2 (Taxes) and 19.9 (Grossing-up) for any reason (where this would otherwise be required by the terms of Clauses 10.2 (Taxes) and 19.9 (Grossing-up)) then: a. (a) the applicable interest rate in relation to that payment shall be the rate which would have applied to that payment as provided for by Clause 6.1 divided by 1 minus the rate at which the relevant tax deduction is required to be made under Swiss domestic tax law and/or applicable double taxation treaties (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1); and b. (b) that Swiss Obligor shall: i. (i) pay the relevant sum at the adjusted rate in accordance with paragraph (a) above; (ii. ) make the tax deduction on the amount so recalculated; and #3462336/1 20 (85) all references to a rate of interest under the Finance Documents shall be construed accordingly. 6.6.3 6.5.3 To the extent that a sum payable by a Swiss Obligor under a Finance Document becomes subject to Swiss Withholding Tax, each relevant Lender and each relevant Swiss Obligor shall promptly cooperate in completing any procedural formalities (including submitting forms and documents required by the appropriate tax authority) to the extent possible and necessary (i) for the Swiss Obligor to obtain authorisation to make such payments without them being subject to Swiss Withholding Tax and (ii) to ensure that any person which is entitled to a full or partial refund under any applicable double taxation treaty is so refunded.